Crocs continues to soar amid the pandemic, records 93% revenue growth

Amid the COVID-19 pandemic that has led to supply chain disruptions, Crocs on Thursday (22 July) reported a 93% surge in revenue to $641 million in the past three months until 30 June. The company also saw a rise in income to $195 million from $139 million.

Due to the pandemic, people are looking for more comfortable footwear to pair with their lockdown outfits. This is seen as one of the reasons behind the soaring growth of Crocs. Also, Crocs shoes are popular among medical professionals. As reported by CNBC, CEO Andrew Rees said that Crocs’ sales rose 57% during the second quarter of 2021 after going up 17% in the first quarter. They also noticed a 99% growth on digital sales compared to 2019. "We definitely benefited from consumer casualisation," he added, highlighting that the clogs are easy to clean and sanitise, hence enhancing their pandemic-time appeal.

Crocs’ collaboration with celebrities and brands, such as Post Malone, Justin Bieber and KFC, to create special editions, as well as the #CrocsChallenge partaken by TikTok micro influencers are also seen as reasons that support the growth. 

Rees also noted that because of the pandemic, global logistics still remain challenging and volatile, and its biggest manufacturing site in Vietnam may see temporary closures. However, he said that Crocs is still “incredibly optimistic about our business.”

Crocs also announced its commitment to reducing carbon footprint and transition to net-zero emissions by 2030. For this year, the company plans to go 100% vegan by year-end as a part of its “comfort without carbon” initiative.